Everywhere, and at all times, economic progress has meant far more to the poor than to the rich.
About this quote
- What does it mean?
- Friedman asserts that economic growth benefits poorer populations more significantly than wealthier ones.
- In plain terms
- Economic progress helps the poor more than the rich.
- What can you take from it?
- Growth lifts the bottom more than the top.
Where it applies
Putting it to work
Questions to consider
- Does growth always help the poor?
- How do we measure benefit distribution?
Another view
It assumes growth always reaches the poor without leakage.
More from Milton Friedman
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